Wednesday, June 26, 2013
Music Business/Law Tips - "Record Deal Term"
Most record deals have a "term" based on delivery and release of an album(s). In other words, the Artist does not move to the next period until an album has been released. The language might say something like: "The initial term shall end the later of (a) 12 months from the date of the agreement, or (b) 9 months from the release of the 1st album". The problem is that the term could end up being "open-ended" or indefinite if for some reason the album is never released or it is delayed. Hence, one should always add a provision that under any circumstance, a period should never exceed 18 months (or words to that effect) just to protect against a worst case scenario/so the Artist does not get stuck forever in a bad deal. Ben McLane Esq benmclane.com